On Tuesday’s broadcast of the Fox Business Network’s “Cavuto: Coast to Coast,” Harvard Professor of the Practice of Economic Policy Jason Furman, who was Chairman of the Council of Economic Advisers under President Barack Obama said that it “gets more
When energy prices explode, the cost of everything explodes because energy is required to manufacture, transport, and install everything.
On Friday’s broadcast of Bloomberg’s “Wall Street Week,” MSNBC Economic Analyst Steve Rattner, who served as counselor to the Treasury Secretary in the Obama administration, said that we’re dealing with a potential stagflation problem where we have to “address both
To the surprise of no one with any knowledge of history, most especially the Jimmy Carter era, the risk of a recession just jumped to 35 percent, according to Goldman Sachs.
Households in Britain are facing the worst decline in their real income in decades, as energy prices cause inflation to soar.
During an interview with Bloomberg on Wednesday, economist Larry Summers said that we’re “at or over the brink of a spiral of rising inflation breaking out.” And the increase in oil prices has made it more difficult to control inflation
The third quarter was forecast to see strong growth and falling inflation. Instead, we got high inflation and the pace of economic growth crashed.
The National Bureau of Economic Research (NBER) declared Monday that the coronavirus recession lasted only two months — the shortest on record — and that the economic recovery began in May 2020 under President Donald Trump.
The Center for Monitoring Indian Economy (CMIE), a privately owned think tank based in Mumbai, said Monday over 10 million Indians lost their jobs during the “second wave” of coronavirus infections and 97 percent of Indian households reported a decline of income since the beginning of the pandemic.
Fifty-three percent of Californians say the state is in an economic recession amid inflation, according to Tuesday’s PPIC polling.
LONDON (AP) – The British economy contracted by a quarterly rate of 1.5 per cent in the first three months of 2021, a relatively modest contraction given that the country was in the midst of a strict lockdown to combat a second wave of the coronavirus.
Great Britain has retaken its position at the world’s fifth-largest economy, overtaking India, and is expected to massively outpace France in the coming years as it finally frees itself from the European Union.
The United Kingdom’s economic emergency is “just beginning”, according to Chancellor of the Exchequer Rishi Sunak, who predicted that unemployment will rise by over one million in the coming months.
British businesses are facing a “hammer blow” from the government’s decision to extend lockdown restrictions, warned the former leader of the Conservative Party, Iain Duncan Smith.
The British government may need to increase taxes by over £40 billion per year in order to prevent the debt accrued during the China virus lockdowns from “spiralling upwards”, the Institute for Fiscal Studies (IFS) warned in a report.
The government of Singapore announced a special one-time “baby bonus” this week, in addition to an existing $10,000 package of benefits for new parents, to encourage more families to have children in the wake of the coronavirus pandemic.
Did Trump cause a recession in Japan, Germany, and the U.K. also?
A report on New Zealand’s Gross Domestic Product (GDP) revealed on Thursday that the nation has slipped into its first recession in ten years, thanks to economic damage from the Wuhan coronavirus.
The Treasury is reportedly considering tax rises to the tune of up to £30 billion to cover the cost of the government’s coronavirus response spending spree, with the department even contemplating raising the tax on petrol which would affect millions of ordinary Britons.
“This is the worst recession since the Great Depression,” Gita Gopinath, the IMF’s chief economist, told reporters at a briefing. “No country has been spared.”
The 11th week of jobless claims above one million.
Consumer prices fell in May, thanks to big declines in the prices of gasoline, clothing, and car insurance. But prices in groceries jumped higher for the second straight month.
Moody’s Analytics chief economist Mark Zandi in a Tuesday appearance on Fox Business Network’s “Mornings with Maria” said the United States just experienced the “shortest” and “most severe” recession in history.
The longest expansion on record ended in February, the NBER said on Monday. On the same day, the Nasdaq hit a new record high.
BRUSSELS (AP) – The European Union signaled Wednesday that it will not punish member countries for breaking the bloc´s deficit rules to tackle the coronavirus but that it could condition their access to sorely-needed recovery funds on them following its
The economic fallout from the Chinese coronavirus was put in stark reality, as the British government revealed that the number of people claiming unemployment benefits in the United Kingdom rose by 856,500 during the first month of the national lockdown.
Studies are raising concerns about the effects of coronavirus business lockdowns and social distancing on mental health.
The European Commission has warned that the entire European Union could be facing a historic recession due to the economic impact of the Wuhan coronavirus.
There is a clear and present danger that lockdown measures aimed at stemming the spread of the novel coronavirus may fuel mental health issues like suicides, Dr. Francis Collins, the director of the National Institutes of Health (NIH), warned this week.
Gov. Jim Justice praised President Donald Trump’s handling of the coronavirus outbreak while warning of a looming “full-fledged depression.”
A report found that the economic fallout from the Chinese coronavirus pandemic will leave 11.7 million Britons out of work by the summer, as the Treasury warns that the national lockdown will have a permanent impact of the economy.
Dubai — Debt levels, unemployment and budget deficits will spike as the Middle East endures a coronavirus-led recession, piling pain on economies already hit by conflicts and an oil price slump, the IMF said Wednesday.
Government projections reveal the British economy is facing a historic economic downturn as a result of coronavirus, and the lockdown.
The European Union has lost at least one million jobs since leaders across the bloc locked down their countries in response to the coronavirus pandemic.
On Monday’s broadcast of CNN’s “Cuomo Primetime,” New York Governor Andrew Cuomo (D) stated that the coronavirus “has triggered a recession.” Cuomo said, “Add up all the costs, add up all the businesses closed, all the people who are going
“Well, it may be,” he said when asked by reporters whether he thought the economy was in a rescission. “We’re not thinking in terms of recession. We’re thinking in terms of the virus.”
On Monday’s broadcast of the Fox News Channel’s “Fox & Friends,” Fox Business host Stuart Varney stated that the U.S. is “headed into a recession. I don’t think there’s any way around it.” Varney said, “We are, I think, headed
To avoid a recession, speed of getting aid out is more important than targeting.
European leaders are lining up an array of tax breaks, financial support for companies and likely central bank measures.
The Japanese government hiked its consumption tax in October. The drag on the economy was much larger than expected.
